Libra Internet Bank ups profit by 83% in Romania

Libra Internet Bank, a small local lender owned by American investment group New Century Holding (NCH), recorded a net profit of RON 59.4 million (EUR 13 million) in 2017, up by 83% compared to the previous year. The bank’s total assets went up by 36%, reaching RON 4.6 billion (close to EUR 1 billion), while its market share went over 1% at the end of last year. The growth mainly came from the bank’s traditional business lines, namely freelancers, SMEs, agriculture and real estate development. Libra’s deposit base increased by 35%, to RON 4 billion, while its loan portfolio went up by 28%, to RON 2.6 billion. The bank’s non-performing loans ratio was 2.7% at the end of 2017, compared to a 6.4% average for the overall banking system. editor@romania-insider.com